Frasers Group increases stake in Hugo Boss to 48%

The British retail group Frasers Group has increased its stake in the fashion company Hugo Boss to approximately 48 percent. This follows a voluntary takeover bid of 38 euros per share, which Hugo Boss management advised shareholders against accepting, claiming the offer undervalued the company's potential. Despite the management's opposition, 17 percent of shareholders accepted the offer.

Hugo Boss CEO Daniel Grieder expressed confidence in the company's future, stating that the increased involvement from Frasers does not threaten the current corporate strategy. Grieder noted that the two parties are fundamentally in agreement regarding the company's direction and maintains a positive dialogue with Frasers Group CEO Michael Murray, who has also taken a position on the Hugo Boss supervisory board.

Frasers Group, owned by billionaire Mike Ashley, has already invested 1.5 billion euros in Hugo Boss. While Frasers has previously attempted to take control of the company, Grieder intends to remain in his position, having recently extended his contract through late 2027.